US non-bank Sifi process 'flawed' and 'unsupportable' say designating body members
Prudential Financial designation raises concerns assessment criteria not fit for purpose
The process for designating significantly important insurers in the US has been branded "flawed" and contradictory by members of the body charged with overseeing the process.
The criticism came as Prudential Financial lost its appeal against its proposed determination as a non-bank systemically important financial institution (Sifi) by the Financial Stability Oversight Council (FSOC).
US insurance
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